Forex trading demands a broker that balances reliability, affordability, and inclusivity. FBS is a well-known name in the industry, catering to traders worldwide since 2009. This review dives deep into FBS’s offerings, including its account types, support for Islamic accounts, regulation, trading conditions, and more.
FBS is a globally recognized forex and CFD broker with over 12 years of experience. It serves millions of clients across 190 countries and offers trading in forex, commodities, indices, stocks, and cryptocurrencies. FBS prides itself on accessibility, with low minimum deposits, flexible account types, and a strong focus on beginner-friendly education. Its slogan, “Trade Forever,” reflects its commitment to long-term client relationships.
FBS PROS & CONS
Regulation and Safety
Safety is a top priority for traders, and FBS takes this seriously. The broker is regulated by:
- Cyprus Securities and Exchange Commission (CySEC): Ensures compliance with EU financial standards.
- Australian Securities and Investments Commission (ASIC): Provides oversight for Australian clients.
- International Financial Services Commission (IFSC): Regulates its international operations.
Key Safety Features:
- Segregated Accounts: Client funds are stored separately from company funds.
- Negative Balance Protection: Prevents losses exceeding account balances (for EU and ASIC-regulated accounts).
- SSL Encryption: Secures transactions and data.
While FBS is regulated, its IFSC license (Belize) offers fewer protections compared to CySEC or ASIC. Traders should choose the entity that best aligns with their risk tolerance.
Trading Instruments
FBS provides a decent range of instruments, though it’s less extensive than brokers like HFM. Available markets include:
- Forex: 50+ currency pairs, including majors, minors, and exotics.
- Commodities: such as Gold, silver, oil.
- Indices: such as S&P 500, NASDAQ, FTSE 100.
- Metals
- Energies
- Stocks
Missing are ETFs and bonds, which might disappoint traders seeking diversified portfolios.
Account Types
Below is a detailed breakdown of the available accounts:
1. Cent Account
- Minimum Deposit: $5 (ideal for beginners).
- Spreads: Floating, starting from 1 pip.
- Commission: Zero-commission trading.
- Leverage: Up to 1:1000.
- Order Volume: 0.01 to 1000 cent lots.
- Execution: Market execution from 0.01 seconds (STP).
- Islamic Account: Available upon request.
Best For: Beginners and traders testing strategies with minimal risk.
2. Standard Account
- Minimum Deposit: $5
- Spreads: Floating, starting from 0.7 pips.
- Commission: Zero-commission trading.
- Leverage: Up to 1:3000 (varies depending on your region)
- Order Volume: 0.01 to 500 lots.
- Execution: Market execution from 0.01 seconds (STP).
- Islamic Account: Available upon request.
Best For: Traders seeking a traditional trading experience with competitive spreads.
Islamic Accounts
FBS continues to offer swap-free Islamic accounts for traders adhering to Sharia principles. These accounts are available for both the Cent and Standard accounts upon request. Key features include:
- No Swap/Interest Charges: Compliant with Sharia law.
- Administrative Fees: FBS may charge a fixed daily/weekly fee or adjust spreads to offset costs.
Traders should contact FBS support to enable this feature.
Discontinued Account Types
As per FBS Customer Support, the following account types are no longer available:
- Micro Account
- Zero Spread Account
- ECN Account
- Crypto Account
If you were considering any of these accounts, you’ll need to choose between the Cent or Standard accounts.
Deposit and Withdrawal Methods
One of the standout features of FBS is its low minimum deposit requirement, making it highly accessible to traders of all experience levels, especially beginners. The minimum deposit is only $5
FBS supports a wide range of funding options:
- Bank Transfers
- Credit/Debit Cards (Visa, MasterCard)
- E-Wallets (Skrill, Neteller, Perfect Money)
- Cryptocurrencies
Most deposits are instant, and withdrawals take 1–3 business days. Notably, FBS occasionally runs cashback promotions for deposits.
Customer Support
FBS offers 24/7 multilingual support via:
- Live Chat: Fast response times (under 2 minutes).
- Email: Detailed replies within 24 hours.
- Phone: Available in select regions.
- Social Media: Active on Facebook, Telegram, and Instagram.
The support team is friendly but occasionally struggles with complex technical queries.
Educational Resources
FBS excels in education, making it ideal for beginners:
- Free Webinars: Daily sessions on trading basics and strategies.
- Video Tutorials: Step-by-step guides for MT4/MT5.
- Seminars: Covering forex, risk management, and psychology.
- Forex Calendar: Real-time updates on market-moving events.
- Demo Account: Practice with $100,000 in virtual funds.
Advanced traders might find the materials too basic, but beginners will appreciate the structured learning path.
Final Verdict
FBS remains a solid choice for beginners and traders who prioritize low entry barriers and Sharia-compliant trading. However, the discontinuation of key account types like ECN and Zero Spread may deter advanced traders seeking specialized trading conditions.
Who Should Use FBS?
- New traders testing strategies with small capital.
- Muslim traders needing swap-free accounts.
Who Should Look Elsewhere?
- Advanced traders seeking ECN or Zero Spread accounts.
- Traders needing ETFs or bonds
FBS Details
